Mortgage Monday – May 16, 2022
May 16, 2022 3:37 pm Leave your thoughtsIn today’s mortgage environment, informed homebuyers are successful homebuyers. Let’s get right into the latest news with this week’s Mortgage Monday update!
Author Archives for Zach Festini
Mortgage Monday – May 9, 2022
May 9, 2022 2:36 pm Leave your thoughtsAs the mortgage rate environment continues to change, today’s prospective homebuyers should be more vigilant than ever in their search. Let’s cover the latest news in this week’s Mortgage Monday update!
How Are Interest Rates Determined and How Do They Work?
May 3, 2022 1:57 pm Leave your thoughtsInterest rates are a big concern when mortgage shopping, but how are interest rates determined? A lower interest rate makes monthly mortgage payments more affordable while a higher interest rate can make it difficult to get approved for a loan. Interest rates are influenced by a variety of factors and can affect the cost to... View Article
How to Use Gift Money for a Down Payment
May 3, 2022 1:51 pm Leave your thoughtsGift money is a cash donation — usually from a close relative — that you can use for your down payment, closing costs, and other fees. However, there are a few rules and requirements to keep in mind when using gift money for a down payment on a home. Here’s what you need to know... View Article
Home Loan Offset Account: What Is It and How Does It Work?
May 3, 2022 1:45 pm Leave your thoughtsIf you don’t want to feel stuck with a mortgage for longer than you have to, there are a number of ways to reduce the interest you’ll pay over time and shorten your home loan’s life. One of the ways you can accomplish this is through a home loan offset account. In this article, we’re... View Article
FHA vs. Conventional Loan: Understanding the Differences and Benefits
May 3, 2022 10:12 am 1 CommentFHA loans are easier to qualify for and require a lower down payment, compared to conventional loans. This makes FHA loans more affordable for lower-income borrowers or those who want to own a home but are actively working to improve their credit. If you have a high enough credit score and a low debt-to-income ratio,... View Article
Mortgage Monday – April 25, 2022
April 25, 2022 1:03 pm Leave your thoughtsMortgage rates are rising and the Federal Reserve is set to meet next week. Let’s get right into the latest news and cover our predictions in today’s Mortgage Monday update! Rates Update For the seventh week in a row, Freddie Mac reported mortgage rate increases in their weekly Primary Mortgage Market Survey. According to their... View Article
Mortgage Monday – April 11, 2022
April 11, 2022 4:52 pm Leave your thoughtsIt’s time for our weekly Mortgage Monday update! Let’s cover the most recent news regarding mortgage rates, the state of the industry, and more. Rates Update Last week, mortgage rates started off slow but ultimately continued climbing upward. Recent turbulence can be attributed to Federal Reserve Governor Lael Brainard’s words last Tuesday, when she said... View Article
